State of Travel
Market shifts, climate patterns, aviation trends, and emerging opportunities — distilled from authoritative sources and translated into what matters for discerning travellers.
Global Luxury RevPAR Recovery — 2019–2025 (USD)
Source: STR/CoStar · JLL Hotels & Hospitality Group
Last reviewed: May 2026 · Sources: JLL, CBRE, Skift, Virtuoso, Bain/Altagamma, UNWTO
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Luxury RevPAR Growth by Region — 2025
Skift Research identifies Asia-Pacific as the fastest-growing source market for luxury travel in 2025–2026. Geopolitics is redefining travel corridors, with new routes opening between Southeast Asia, the Middle East, and Africa. Properties in these regions are seeing earlier booking windows and higher average spend.
Skift State of Travel 2025 · July 2025JLL forecasts mid-double-digit RevPAR growth in FIFA World Cup 2026 host cities (USA, Canada, Mexico). Investors are acquiring assets in those markets now. Travellers planning to attend should book accommodation 12–18 months in advance — luxury inventory in host cities is already tightening.
JLL 2025 U.S. Hotel Investment Trends · January 2026Bain's 2026 study shows the luxury market lost 20 million active consumers at the aspirational tier, while the UHNW segment driving $1,000+/night bookings continues to grow. Properties at the very top of the market — exclusive-use, private island, ultra-limited inventory — are seeing the strongest forward booking and rate growth.
Bain / Altagamma Luxury Study 2026 · January 2026JLL reports new hotel supply growth is running well below the long-term annual average of 1.7%. The combination of rising construction costs, planning constraints, and higher financing costs means the pipeline of new luxury hotels is thinner than at any point since 2010. This structural supply constraint supports continued rate growth at quality properties.
JLL 2025 U.S. Hotel Investment Trends · January 2026Watch
76% of luxury travellers who are adjusting plans due to climate change are shifting to shoulder season or off-peak timing. Traditional peak seasons in Mediterranean destinations are becoming uncomfortably hot in July–August, while shoulder months (May–June, September–October) now offer superior conditions.
Virtuoso Luxe Report 2026 · October 2025CBRE notes a sustained imbalance between inbound and outbound U.S. travel volumes through 2026. Strong dollar and geopolitical uncertainty are suppressing inbound international arrivals to the U.S. while American outbound travel to Europe and Asia remains robust.
CBRE Hotels State of the Union · September 2025